4. Based on the following data, prepare a bank reconciliation for December of the current year: a. Balance according to the bank statement at December 31, $80,448 b. Balance according to the ledger at December 31, _________ c. The following checks were still outstanding as of Dec 31, 2019: Check #1234 $5,301 Check #1235 $10,300 Check #1236 $6,000 d. Interest earned, $100 e. Deposit in transit, not recorded by bank, $113 f. Bank debit memorandum for service charges, $55 g. A check for $200 in payment of an invoice was incorrectly recorded in the ledger as $20 5. Based on the bank reconciliation prepared in 2 above, journalize the entry or entries to be made by Ultimate Frisbee, Inc and post to the ledger (T-accounts). 6. Based on the above transactions, prepare an Unadjusted Trial balance. 7. Based on the following information, journalize the adjusting entries in your Unadjusted Trial balance and prepare an Adjusted Trial Balance as of December 31, of the current year: a. Accrued Sales Revenue, $3,600

Financial Accounting - Bus 212 Summer 2023 Page 3 b. Prepaid insurance expired during the year, $4,400. c. Accrued Salaries for a 2-day period ending Dec 31st. Salaries of $1,500 are typically paid weekly for a 5-day work week. d. Accrued Interest expense for the 5yr, 3% Long Term Note Payable from the Bank. e. A physical count of supplies showed $4,900 left on hand. f. Depreciation is computed as follows: Asset Cost Residual Value Acquisition Date Useful Life in Years Depreciation Method Used Buildings $240,000 $ 0 January 2, 2018 40 Straight-line Office Equip. 9,000 1,000 January 3, 2019 4 Straight-line Machine 10,000 1,000 July 5, 2020 5 Straight-line 8. Using your Adjusted Trial Balance, prepare an income statement, statement of retained earnings and balance sheet as of December 31, 2020.